TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsIndonesia consumer confidence plunges to five-month low
The recent fuel hike is causing a downward spiral in consumer perception across the country, as shown by the central bank’s headline index.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Shoppers browse palm cooking oil on March 27, 2022 at a supermarket in Jakarta. (Reuters/Willy Kurniawan)
C
onsumers have become less optimistic about the national economy as the ripple effect of the fuel price hike spreads across the country, a Bank Indonesia (BI) survey shows.
The central bank’s latest report published on Monday showed that the consumer confidence index (CCI) dropped by 7.5 points to 117.2 in September, the lowest level in five months.
The CCI takes into account consumer perceptions about the overall macroeconomic situation as well as personal income and job prospects.
The economic conditions subindex also fell by 3.7 points to 108.3, the lowest since April, while the expectations subindex tanked by 11.6 points to 126.1, the lowest figure this year.
Although the CCI remains in positive territory above 100, the latest figures are far below the headline index’s highest level recorded this year, reaching 128.9 points in May.
“Consumer confidence in the economic conditions remains solid [...] despite retreating from 124.7 a month earlier,” BI communication director Junanto Herdiawan stated in a press release on Monday.
Read also: Consumer confidence rebounds, but gains may prove short-lived
